Urban Company IPO Upcoming
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About Urban Company
Founded in October 2014 by Varun Khaitan, Abhiraj Bhal, and Raghav Chandra, Urban Company (formerly known as UrbanClap) is an Indian service provider company that connects individuals with professionals for home services. It offers a wide range of services ranging from beauty treatments, cleaning to carpentry and repairing.
Urban Company Valuation
Urban Company, once eyeing a major IPO in late 2024, has revised its plans recently. Its board has now approved raising up to INR 528 Cr (~$60 Mn) through a fresh issue as part of the IPO, alongside an offer-for-sale.
As for the company valuation, it concluded its last ESOP liquidity program in December 2021 at a valuation of $2.8 billion. In FY 2024, it also completed a new buyback at a valuation of approximately $2.2 billion to $2.5 billion.
Operations & Performance of Urban Company
Urban Company is a tech-driven home services platform operating across 50+ Indian cities and international markets such as the UAE, Saudi Arabia, and Singapore. It delivers services like beauty, cleaning, and repairs through a network of over 50,000 trained professionals. Over the past three financial years, the company’s revenue has steadily grown from ₹438 Cr in FY22 to ₹637 Cr in FY23, reaching ₹827 Cr in FY24. During the same period, losses before tax have significantly declined from ₹512 Cr to ₹308 Cr, and further to ₹93 Cr, indicating strong improvements in unit economics and operational efficiency. With over 4.5 million monthly orders and a repeat rate exceeding 60%, Urban Company continues to scale while maintaining a focus on service quality, partner productivity, and profitability.
Future Plans of Urban Company
Urban Company plans to expand into more Tier 2 and 3 cities in India and grow its international presence, especially in the Middle East and Southeast Asia. It aims to achieve profitability by improving operational efficiency, enhancing partner earnings, and introducing models like on-demand and subscription services. The company is also investing in technology and upskilling while preparing for a potential IPO.